Hot Research

Ace Holds a Strong Hand

MKM Partners raised estimates and the target price on the insurer.

Ace reported third-quarter operating income of $2.49 per share. This compares with our estimate of $1.99 and the consensus estimate of $2.24.

The consensus estimate moved up by approximately 20 cents over the past month as Wall Street began to adjust estimates for the lack of third-quarter catastrophes. We chose to leave our estimate of $1.99 in place as it can be a...